WHAT IS AN ACCOUNTING AUDIT?

The accounting audit has the necessary function of ensuring that a natural or legal person is not only telling the truth about their financial reports but also that the company's operations are operating as planned.

Accounting auditors can work within the company and perform an internal audit, but they can also be external agents and perform an audit for another organization or institution, such as the SAT

External and internal auditors:

External auditors are fully certified accountants who work as freelancers for a company or organization; These accountants aim to examine the financial statements prepared by the management of the company or organization.

In the case of internal auditors, we must say that they perform very similar functions to ensure that the financial statements of the company are truthful and accurate; however, they are employees of the audited company.

Company systems:

An accounting auditor not only checks that a company's financial statements are accurate but also checks that the company's systems are working as they should. The systems that an auditor is responsible for examining are those related to the internal controls of the company, or the measures adopted to reduce or eliminate accounting errors or fraud. The report released by the expert also points to possible internal holes in companies that, by not taking action, may allow employees to commit fraud and go undetected.

Financial goals:

Businesses should always strive to keep operating costs as low as possible without sacrificing productivity. The accounting audits to the objectives and financial goals established by the company and thus determine if the growth policies or plans are being carried out in the best way in order to achieve the stated objective.

Undoubtedly, the work of accounting auditors is essential in such a way that having their services is essential. If you wish to carry out an external audit of your business or companies, it is best to contact us, the experts at CPMD y Compañía, SC, where we have extensive experience in the field of accounting services and tax services.

THE FIVE MOST IMPORTANT FUNCTIONS OF MELBOURNE ACCOUNTANTS

The functions performed by accountants are very important since their main objective is to comply with the financial regulations established by the state in which they operate, as well as to facilitate decision-making by the management levels of the company or organization.

Among the main tasks that we can highlight are the five most important functions of Melbourne Accountants. 

Create financial statements: The accounting advisor is responsible for creating financial statements, which are summary reports that contain the use of company funds, as well as the financial situation in which it is. Its objective is to evaluate the losses or gains in a certain time.

Conduct audits: This function can be called as the synonym of examining and verifying the accounting documents, all with the purpose of creating a report that reflects if the audited information is faithful to the company that was the object of an audit.

Declare taxes: In Australia, the declaration is made before the Tax Administration System (SAT). In this statement, the amount of income earned in a certain period is stated. Likewise, the accountant has the obligation to complete the forms that he will present before.

Prepare payrolls: Payrolls are documents that record the days worked, as well as the salaries received by each employee. These documents include wages, bonuses, and deductions that are made to each worker.

Carry out cost accounting: Cost accounting is a technique for measuring and analyzing the result of business activity. Basically, it is a tool that helps in the decision-making process of the managerial levels of the companies.

As you can see, the service offered by the accountant is very important for companies and for the government; For this reason, if you wish to hire the service of experts, invite them to hire the services of Reliable Melbourne Accountants, an accounting firm Melbourne of experienced accountants where we offer excellent quality accounting services and tax accountant Melbourne. We are much more than an accounting firm since we not only offer accounting and tax consulting services, but we also provide bookkeeping services. We offer comprehensive services that allow our clients to operate under established regulations.